Oral Answers to Questions Debate
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Clive Betts
Main Page: Clive Betts (Labour - Sheffield South East)Department Debates - View all Clive Betts's debates with the Ministry of Housing, Communities and Local Government
Oral Answers to Questions
Clive Betts Excerpts(2 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Mr Speaker
I call the Chair of the Levelling Up, Housing and Communities Committee.
Mr Clive Betts (Sheffield South East) (Lab)
It seems that investment zones are one of the few bits of the mini-Budget that are still on the table. Can the Secretary of State clearly explain how investment zones will be financed? Will it be completely new money, and, given the pressure that local authorities have been under from austerity and now from inflation, will he give an assurance that the money for investment zones will not be found by transferring it from other parts of the local government budget and particularly from levelling-up funds?
Mr Clarke
Yes, this is new money. It is coming from the Treasury as part of the settlement. Clearly, my right hon. Friend the Chancellor will be setting out the medium-term fiscal plan on 31 October and that will be the moment of confirmation.